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Africa Welcomes China's Debt-Relief Move
African ministers attending the on-going China-Africa Cooperation Forum here today welcomed China's decision to reduce or exempt 1.2 billion U.S. dollars-worth of debt owed to China by some African countries.
The debt-relief program is expected to be carried out within two years, said foreign trade minister Shi Guangsheng, who announced the decision of the Chinese Government earlier Wednesday.
Lila Ratsifandriamanana, minister of foreign affairs of Madagascar, said for years China has helped the African nation with projects involving sugar, medicare, agriculture and housing.
She also said Madagascar and other African countries are grateful for China's move to cut their foreign debt.
Sama Siama Banya, minister of foreign affairs and international cooperation in Sierra Leone, said his country has been servicing external debt at the cost of developing the economy.
After wars and conflicts, he said, Sierra Leone urgently needs capital for economic recovery, and is delighted at China's debt-relief endeavor.
China established diplomatic ties with Sierra Leone in 1971. Since then, Banya said, China has never imposed its will on Sierra Leone.
Bonaya Godana, Kenyan minister of foreign affairs and international cooperation, said external debt has been a heavy burden on Africa. Many countries spend 30 percent of their revenue repaying debt, thus affecting the development of education, medicare and social welfare.
He said Kenya hopes the international community, especially developed countries, make more commitments to alleviating the debt of Africa.
Augustin Kontchou Kouomegni, minister of state for foreign relations of Cameroon, said slave trade and colonialism has put Africa in a disadvantageous position. He noted that the average yearly income of people in Sub-Saharan countries is only 500 U.S. dollars per capita.
With rising debt, trade deficit and decrease of international assistance, African countries risk being marginalized during the course of economic globalization, he said.
He said China has been providing huge aid to African countries, and Africa sincerely thanks China for doing this.
Andre Bumaya, minister of foreign affairs of Rwanda, said China has always sided with African countries regardless of changes in international politics.
Bumaya said Rwanda is thankful to China, and that the forum has injected new vitality into China-Africa relations.
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